Nissan Motor Co (7201.T) said on Wednesday that it will invest more than $700 million in Mexico over the next three years to expand its business.
Nissan’s operation in the state of Aguascalientes will benefit from the investment, which will upgrade facilities, equipment, and automation methods, according to the business.
“Mexico is a critical part of Nissan’s worldwide operations, serving as both a major car sales market and an export base for dozens of countries,” said Jeremie Papin, Chairman of Nissan Americas.
According to corporate figures, the manufacturer topped sales and manufacturing in Mexico last year, with a total of 203,918 vehicles shipped to Mexican customers.
Mexico is an important center for automobile production, providing low-cost access to the US market as well as competitive access to the rest of Latin America.